§ 23-2-4-14 — Fund; board of directors; membership; compensation

Indiana § 23-2-4-14

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 2: SECURITIES AND FRANCHISES
• Ch. 4: Supervision of Continuing Care Contracts

Text

(a) There is established a board of directors
to administer the fund. The board of directors of the fund shall consist
of five (5) members to be appointed by the governor, from a list
submitted by the secretary of state, as follows:
(1) one (1) provider;
(2) two (2) residents;
(3) one (1) individual with expertise in insurance; and
(4) one (1) individual with expertise in banking and finance.
In addition, the commissioner shall serve as an ex officio member of
the board. Directors shall serve such terms as are established in the
plan of operation under section 15 of this chapter.
(b) Members of the board of directors are not entitled to
compensation for their services. However, each member is entitled to
the following:
(1) Reimbursement for traveling and other expenses incurred as
members of the board, as provided in the state travel policies and
procedures, established by the Indiana department of
administration and approved by the budget agency.
(2) Reimbursement for expenses related to one (1) meal provided
each year in connection with the board's annual meeting.
As added by Acts 1982, P.L.145, SEC.1. Amended by
P.L.177-1991, SEC.9.